Informing business decisions through Sales Analysis

Sales Analysis

What is Sales Analysis?

Sales Analysis is a critical and vital analytical tool for any business looking to grow, not only does it show the performance of your business, but also gives you detailed reports on product revenue, in-depth customer data (demographics, geographic and consumer interactions, etc) to the performance of sales for not just your business but also, more importantly, your sales team.

Utilizing it will give you key data-driven information that can help you make informed decisions on sales and product strategies, which will lead to better returns and better growth.


Why is Sales Analysis Important?

For a growing business, sales analysis is essential for growth be it in a crowded marketplace or as a first-mover, running sales analysis through an ERP system will not only be beneficial in terms of understanding your customers but will also give you the advantage of understanding key market data and trends that can help increase your market share

Sales Analysis is Important as it gives key insights on:

  • Utilising long term data

As a business tracking data from the origin point can be incredibly beneficial as you experience growth in the years ahead, tracking your sales for the long term can help give you comparison points that can be beneficial.

For example, if you introduce loss leaders to stimulate other products/services offered, you can compare the sales data to a time when you did not implement loss leaders and contextualize it within a report to see how much profit was generated from both sales strategies.

Moreover, this can be great for accruing investments, as a long-term sales report on your company’s growth can have a positive influence on data-driven investor decisions.  

  • Customer Analytics

Having the ability to understand consumer behaviour is key to not only understanding what makes your customers tick, but analytics gives you furthermore data-driven information on your customers that can lead to incredible conversions that result in better sales, and give you key information on customers that can help retain them better.

By analysing sales performance, you can make data-driven decisions to find the needs of potentially profitable customers and formulate strategies that fit better to their needs leading to exponential growth.

  • Market Analysis

Sales analysis gives you key insights on market trends through past and current data, helping you identify key opportunities, analysis of sales performance of product/service offerings, and giving you the ability to foretell sales revenue and inventory sold in certain periods of time

Sales analysis gives you key data points on your audience to help you build awareness and create better marketing campaigns that can lead to higher conversions and more sales


Key Types of Sales Analysis

There are a number of Sales Analysis Techniques you can implement with the right software to better your business, however, to keep it short and succinct let’s go through the 5 Key Techniques that will infinitely help you improve your business operations once implemented

  1. Sales Performance Analysis
  2. Product Sales Analysis
  3. Predictive Sales Analysis
  4. Marketing Research

Let’s methodically dissect each technique to get a better understanding of why it would be hugely beneficial to your business

1. Sales Performance Analysis

Sales Analysis
Image by Lukas

Perhaps the most indicative of the worker performance within your business in terms of the sales team, you can use this technique to essentially monitor your sales team’s performance, from not just the sales accrued via your reps but also incur a financial-based analysis on revenue/profit generated from a collation of departments

Our reports can specifically target and focus on the important results you would like to see, this can be from revenue to profits, to indicating poor sales performance of teams/individuals. With this information, you can tailor and trial differing strategies to see which one will give you the results you expect from your sales team. Or even more, you can use this analytic technique to find gaps and offer better prices etc.

2. Product Sales Analysis

An essential tool if you are offering multiple products at a time, this can be essential if you are a retailer and have a variety of product offerings in your timeline, implementing this technique can help you do a routine check on offerings that aren’t giving you the revenue or demand you would want, from there you can re-strategize a plan to either improve on the product or its marketing to inform future decisions on whether the product should be promoted or discontinued

Implementing product sales analysis is highly vital, as you can use this data and pinpoint areas to target through demographics, popularity, costs, and revenue generated with each offering, from there as said before helps enable you to make more informed decisions about your product offerings that can add considerable growth to your business

3. Predictive Sales Analysis

Sales Analysis
Image by Cottonbro

This technique can be incredibly beneficial for making strategic decisions with your product/service offerings acting as sort of an algorithmic fortune teller that foretells the future depending on your current and past sales reports. You can use these reports with even existing customers increasing their CLV (Customer Lifetime Value) by targeting areas of opportunity where you can upsell, cross-sell by tracking customer behaviour.

By integrating this analytical software you can utilize data-driven decisions to either improve or stall sales strategies

4. Marketing Research

Being on top of market trends is essential for an evolving business landscape with a global level of consumers who have differing preferences, market research can also stem from the analysis of competitor methods, this can be how they price their products, to even how customers interact with them and vice versa. Using this you can dissect their strengths and weaknesses, implementing them into your own strategy to improve it or keep it the same (in the case it’s already quite successful).

It is highly beneficial to do this research routinely to maximize data-driven decisions and implement them into product offerings to maximize your sales.


Sales Analysis
Photo by Athena

It is highly beneficial to do this research routinely to maximize data-driven decisions and implement them into product offerings to maximize your sales. 

You might be wondering how would you go about utilizing these analytical techniques and applying them towards reaching your sales goals, let us go through a step by step process


Sales Analysis
Photo by Thirdman

Step 1 – Outline your Sales Goals

This is the process where you start asking yourself what the end goal of your business is and how you can achieve it, here are a few things you can think about while discussing goals with your sales team

  • Determine initially what the sales goals are to be
  • What is your best product/service offering depending on sales data acquired through the analytical process
  • Build a profile on the customer, including a basic outline of their needs and wants in terms of your product offerings and how it could benefit them
  • Is there a negative pivot within the sales process you administer and teach your team, what steps can you take to mitigate it, this can be instilling e.g. a new script if you are a telemarketer
  • Develop an observational data report to see how well employees have done after doing their sales training, if it isn’t causing growth in sales you might need to change strategies
  • Improve price points and value on product/service offerings depending on analytical data
  • Refining your product offerings

Whatever your sales and business goals are, the first step is to outline them. 

This will help you figure out the exact data you needed so you can track it over time, like a longtitudinal study and analyse the effects of different strategies within your sales pipeline. So, be very clear on what your sales goals and what metrics matter most to your business. 


Step 2 – Choosing a Sales Analysis tool 

Deciding which metric to track through your sales dashboard can be a complicated project, so its important to discern and divide the results to a more tangible metric you and your team can keep track of and understand, through this process over time you can slowly input new data points and keep track of them at a steady pace provided your whole team has been through enough training to understand the data provided by analytical tool and they are trained to apply and implement them as part of their sales strategies

Data such as customer metrics and insights into lead generation can help supervisors and managers re-evaluate and refine their sales process based on data driven decision making for the benefit of the organisation down to a quantitative level. Key metrics you can look at to evaluate your team can be through revenue generated by sales, product, or even the lead you use.

Moreover, understanding CLV (Customer Lifetime Value) also helps you prioritize where to spend your efforts. Using CLV enables you to make decisions as to how to best allocate our resources.

The customer lifetime value is a clear indicator of what a company can expect in revenue from each customer. This can be beneficial in a number of ways, including comparing customer service costs to income from products and services.


So…

Sales analysis is a huge part of developing and growing into a successful organisation as it gives your business the ability to expand and sell using proven data driven strategies that can ensure the growth of your company, maintaining and building new customer relationships.

More importantly, Sales analysis keeps your business relevant and applicable to new and emerging market trends, helping your organisation in a competitive global market

Rules of Play for Triumph Footy Tipping Competition for 2022

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For this years Footy Tipping competition, there are twenty-three rounds, each round consisting of up to nine AFL games to tip against. Participants predict the result of each game by nominating the correct result. Participants must also select the margin they think will be scored in the margin game played in each round.

Awarded Points:

1 Point A correct prediction will be awarded one point per game.

Bonus Points

1 Point Participant(s) who pick the correct prediction and closest margin of the nominated game of the round will be awarded one bonus point per round.
1 Point A correct prediction of an interstate team winner where the home team is playing in their home state will be awarded one bonus point per game.

2 Points A correct prediction of the lowest bottom ten team beating any top eight team will be awarded two bonus points per round.

10 Points A correct prediction of a drawn game will be awarded ten bonus points per game.

2 Points Participant(s) predicting all correct results in a round will be awarded two bonus points per round

For details on definitions and the resolution of a drawn round, please refer to points 1, 21, 22, 23 in the Terms & Conditions.

Special Note:
In 2022 all players will be given the concession to have three rounds of Tips submitted on their behalf, if
They fail to lodge them by the cut off time, which is before the bounce down of the first game of each
round. After the three concession games have expired and no entry is received by the cut off time, no tips
will be recorded and the Participant will be ineligible for bonus points and prizes for that round but will still
be eligible for the overall prize. Tips entered before the cut off time may be modified provided the changes
are completed prior to the cut off time. All concession games will be allocated away games including bonus
points excluding the margin bonus point.

Install the latest Triumph 6.2 Update in 10 simple steps

Here’s how you install the latest Triumph 6.2 update in 10 simple steps.

Firstly, you should check if you are on the latest release by logging into Triumph and going to;

Help -> Check for Update.

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Important Note; if you do not see the ‘Check for Update’ option it indicates that your system is definitely not up-to-date.

If a later release is available, it will be stated.

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Please note that only the latest version of Triumph receives all the latest features.

Before you begin:

  • Make sure that all users are logged out of Triumph and have closed the program down.
  • It is recommended that the Validate Triumph program has been run for all companies. This is to clear out any stale sessions in Triumph.
  • During the installation of the update it is recommended that the user is logged on to the server as administrator. This is to prevent any security and access rights issues. (Note that when running as administrator and installing on a LAN with a mapped drive, e.g. T:, this mapped drive must also be mapped for the administrator).

Step 1

and copy it into the ~\Triumph\wrkstn\’ folder.

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Step 2

Run the ‘Triumph 6.2 Update.exe’ installer, located in the ‘~\Triumph\wrkstn\’ folder. Click “Next >”

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Step 3

Select “I agree to the terms of this license agreement” and click ‘Next >’.

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Step 4

Your Triumph installation folder should be filled in automatically if the installer is run from the ~\Triumph\wrkstn folder. Click ‘Next >’ if this information is correct.

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Step 5

Click ‘Install >’ to start the installation. This will install all the updated programs, forms and reports.

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Step 6

Click ‘Next >’ once the install process has completed.

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Step 7

Please ‘Select ALL’ companies then click ‘Next >’. This process updates the company data.

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Step 8

Click ‘Confirm to proceed with process’ and click ‘OK’ to start the company data update.

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Step 9

Once the company data update is complete, click ‘Finish’.

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If there were any errors during the update, highlighted in red at the end, you will need to remedy and run again. If the problem persists please contact your Triumph consultants.

Step 10

You can then click ‘Finish’ to complete the update, and optionally view the log file.

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You have now installed the latest Triumph 6.2 update in 10 simple steps. Well done.

If you haven’t already done so, download the ‘Triumph 6.2 Changes Document.pdf’ from our website at: Download the latest ‘Triumph 6.2 Update.exe’ from our website at: triumph.com.au/support/triumph-updates, and find out about all the changes included in this update.

Triumph Build Date October 2021

Triumph

Major Features From This Build

  • Automatic Delivery Dockets

A new feature in Advanced Sales Orders, when you have Advanced Picking turned on, allows a delivery docket to be automatically printed when the last picking slip for an order has been confirmed. Let’s say you have a large order that gets split into half a dozen picking slips. The picking slips can be picked in any sequence, and when the last one has been confirmed, Triumph will automatically produce a delivery docket for the order. This could be from Paperless Picking on a scanner, or in Confirm Picked Quantities (D-O-T-C). Note that if you don’t have deliveries turned on, it will automatically produce an invoice instead.

  • eCommerce Global Search

A new “Global Search” option in eCommerce Control (S-S-X-E) allows a product search to be done at any time from any page. A new search form is displayed at the same level as the page menu and View Cart button, so even if you’re on the Account page or Orders page, you can immediately search for a product, without having to go to the Products page first.

  • Revalue FX Bank Account at a Date

Revalue Bank Accounts (G-B-S-V) now allows foreign bank accounts to be revalued “as at” a particular date. Previously it would revalue the whole bank account at the current point in time.

  • Click To Order

There is a new “Click To Order” feature in eCommerce. When you send out a Sales Order quote, the form has an optional button at the bottom that says “Place Order”. Clicking this button will take the customer to a special eCommerce page that displays the quote again in a browser. From there, there is a “Click To Order” button that loads the quote into the shopping cart, and allows the user to check out, or continue shopping as required.

Click To Order works for both account customers, and non-account customers through the “Guest Debtor” if you have B2C. If you have a payment gateway, COD customers will be required to pay for the order during checkout. Note that stock items that are not web enabled are supported on a quote, and that any charge lines on a quote are converted to freight charges. If the order is being picked up these freight charges will be dropped.

The ”Order Enquiry Link” option needs to be on in Web Control (S-S-S-W), before this feature is enabled.  You can also user the {!Transaction.Order_Enquiry_URL} merge field if you want to put a “Click To Order” link in the body of the quote email.

  • Export To Excel

Both business forms and Background Task Scheduler reports, that are emailed, can now be exported and attached as Excel, rather than PDF. They can also be exported as Rich Text and CSV. In Business Form Set Up (S-U-F), there is a new “Export Type” option, allowing you to specify the format. This applies to the default output, system exceptions and account exceptions. The Background Task Scheduler (S-U-B) has the same “Export Type” option.

Note that these export formats and outputs are entirely based on what Crystal Reports provide. We have not direct control over the way the export file ends up. All we can do is tell Crystal which one of its export formats to use.

  • NAB Payment Gateway

We now support NAB Transact as a payment gateway type. Along with PayWay, MIGS and MPGS, this now covers all the big 4 banks, and most of the second tier banks.

  • Fixed Assets Service Scheduling

This was actually in the June update, but was not previously highlighted. Fixed Assets now has new Testing and Service Scheduling functionality. Testing & Service Type Maintenance (F-F-X-T) and Asset Service Schedule (F-R-X-A) are new options, and Fixed Asset Maintenance (F-F-A) has a new Testing/Service tab where different service types and parameters can be set. You could even make the Asset Service Schedule a scheduled report, and have it automatically emailed to the service manager at the start of every month. You can now even send it to them in an Excel format.

Plus so much more. Return to your October eNewsletter to view the complete Database Release 6.2 Changes Report.

How do I speed up going through the menus?

How do I speed up going through menus? with triumph

Although the Triumph menus are consistent and logical to follow, sometimes you just want a quick way of getting to the options you use all the time.

Well, the good news is that this can easily be done!

At the top of Triumph, on the button bar, is a Favourites button. Click on this to display a list of your favourite menu options, and a list of the options you have most recently visited…

menus

Simply click on any of these, to take you directly to that option, e.g. Sales Order & Quote Entry (D-O-T-O).

To add your own permanent favourites, click the “Maintain Menu Favourites” option at the bottom of the list. This will bring up the following dialog, where you can add, remove and order your Favourites…

Menus

Note that to add a favourite option, it must be in the list of most recent options to start with.

Lastly, if you don’t see a Favourites button on your button bar, you may need to adjust your menu security. To get access to Favourites, you must also have access to the “Maintain Menu Favourites” option (S-M-F)…

menus

Triumph ERP 6.2 build 1-Sep-2021 is the latest version of Triumph.

latest

The latest September 2021 build incorporated a number of important enhancements.

  • Click To Order

There is a new “Click To Order” feature in eCommerce. When you send out a sales order “quote”, the form has an optional button at the bottom that says “Place Order”. Clicking this button will take the customer to a special eCommerce page that displays the quote again in a browser. From there, they can press a “Click To Order” button, that loads the quote into the shopping cart, and allows the user to check out, or continue shopping as required.

Click To Order works for both account customers, and non-account customers through the “Guest Debtor” if you have B2C. If you have a payment gateway, COD customers will be required to pay for the order during checkout. Note that stock items that are not web enabled are supported on a quote, and that any charge lines on a quote are converted to freight charges. If the order is being picked up, these freight charges will be dropped.

The ”Order Enquiry Link” option needs to be on in Web Control (S-S-S-W), before this feature is enabled.  You can also user the {!Transaction.Order_Enquiry_URL} merge field if you want to put a “Click To Order” link in the body of the quote email.

  • Export To Excel

Both business forms and Background Task Scheduler reports, that are emailed, can now be exported and attached as Excel, rather than PDF. They can also be exported as Rich Text and CSV. In Business Form Set Up (S-U-F), there is a new “Export Type” option, allowing you to specify the format. This applies to the default output, system exceptions and account exceptions. The Background Task Scheduler (S-U-B) has the same “Export Type” option.

Note that these export formats and outputs are entirely based on what Crystal Reports provide. We have no direct control over the way the export file ends up. All we can do is tell Crystal which one of its export formats to use.

  • NAB Payment Gateway

We now support NAB Transact as a payment gateway type. Along with PayWay, MIGS and MPGS, this now covers all the big 4 banks, and most of the second tier banks. A payment gateway can be used in eCommerce for B2C customers at checkout, and B2B customers to pay off their account. It can also be used in Triumph as a payment method in Point Of Sale, as well as an order deposit in Sales Order Entry. With the ability in Triumph now to securely store encrypted customer credit card details, this is a great new feature.

  • Fixed Assets Service Scheduling

Fixed Assets now has new Testing and Service Scheduling functionality. Testing & Service Type Maintenance (F-F-X-T) and Asset Service Schedule (F-R-X-A) are new options, and Fixed Asset Maintenance (F-F-A) has a new Testing/Service tab where different service types and parameters can be set. You could even make the Asset Service Schedule a scheduled report, and have it automatically emailed to the service manager at the start of every month. You can now even send it to them in an Excel format.

If you are not on this latest version please contact your support consultant. For Triumph Cloud clients, this update will be rolled out over the next couple of weeks.

Crystal Reports

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With Crystal Reports, you can easily deliver rich, interactive content from virtually any data source, publish it to the Web in a variety of formats and integrate it with applications. Crystal Reports is part of a suite of integrated technologies that ensure data can be accessed, analysed, reported on and delivered to any stakeholder anytime, anywhere, by any device.

Powerful Content Creation

Wide variety of report types. Create virtually any report you can imagine including sub-reports, conditional summary, cross-tag, form,drill down, OLAP, Top N, multiple details, mailing labels.

Fast and easy report creation. Powerful wizards, experts and build-in functionality help novice and expert users users quickly assemble highly interactive reports. Customise your reports with logos, pictures, shapes and colours. An extensive formula language gives developers full control over report formatting, complex business logic and data selection.

Microsoft Office Integration. Crystal Reports Add-ins for Microsoft Excel and Microsoft Access make reporting from Office data a snap.

Interactive. Add charts, drill-down, alerting, parameter prompts, hyperlinks, geographic mapping, field highlighting, running totals, Top N, Bottom N, sorting to turn reports into compelling, interactive content.

Complex reports made easy. Address complex reporting requirements with expert-driven features including grouping, sorting, sub-reports and cross-tabs, or use the powerful formula editor.

Flexible information distribution. Publish reports to a variety of formats including XML, PDF,DHTML, RTF, Word, Excel, text and email.

High performance report processing. Comprehensive support for SQL database servers enables faster report processing and better use of network resources.

Flexible Developer Tools

Crystal Reports provides powerful reporting technology** for web and Windows® developers, and you don’t have to learn a proprietary programming language to get results!

  • Unprecedented flexibility and control. The Report Designer Component (RDC) provides Visual Basic®, C++ and other COM-based developers a powerful report server with a rich object model with complete control over report layout, formatting and behaviour inside database applications. 
  • Rapid application development. With the RDC, you can open, design and, modify reports inside the Visual Basic IDE using familiar Visual Basic code. Microsoft Visual InterDev® 6.0 developers can write ASP applications with integrated Crystal Reports using the same object model used in Win 32 applications. And developers using Microsoft Visual InterDev 6.0 can use the Report Integration Controls to write web applications and generate Crystal Reports hosted either on a Web Report Server or an ASP Server.
  • Royalty-free runtime. Access hundreds of royalty-free runtime properties, methods and events for unprecedented control over the reporting engine.
  • Report creation at runtime. Let your users create reports – on the fly – from within your application, using report creation at runtime APIs or the drag-and-drop interface of the Embeddable Crystal Report Designer Control. Licensing fees apply.
  • Easy data access. Connect to over 30 different types of OLAP, SQL and PC databases using supported native, ODBC and OLE DB connectivity. Or report off in-memory application data.
  • Customizable viewers. Customize the zero-client DHTML, ActiveX or Java viewer to deliver rich, interactive content from applications.

Business Knowledge & Software Technology Expo 2019

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Discover how a fully integrated system can empower you and your business to not just survive but thrive in this technology driven world

Over the last few years, mobile and web-based technologies have had a huge impact on the market place. In this presentation, we will review how you can use technology to expand your business and stay competitive in the years to come.

Topics of Discussion

eCommerce – Allow your clients to interact with you wherever they are, be it in the office or on their phones. Having a fully functional online store and customer portal has never been easier. Just like the big boys, get your clients doing the work for you.

Mobile Workforce – Discover how tradies/consultants/staff can record time and materials while out on the job, then capture the customer’s digital signature for proof of delivery and billing. Alternatively, see how you can check stock and accounts and create orders for immediate processing in the warehouse.

Paperless Picking – Learn how to improve efficiency and accuracy with mobile scanners. They tell you where to go and show you what to pick. Even casual staff, employed during peak times, can start picking in a busy warehouse on these devices.

Inventory Scanning – Mobile scanning can streamline workflows, improve data accuracy, and speed up physical inventory counts. If your business carries inventory, and you’re still entering data manually, then it’s time to start using this technology.

Event

Talk | Mobile and Web-based Technologies Presentation

Date | Wednesday 13th March 2019

Time | 9.00am to 9.40am

Cost | Free

Where | Business Knowledge & Software Expo

Address | Technology Park Function Centre, 2 Brodie Hall Dr, BENTLEY

If you would like to attend this presentation, please email your name, company name and contact phone number to admin@caman.com.au or phone 9470 9922 OR click here to be taken to our Eventbrite page.